Napa, CA, August 22, 2024 – Benchmark Wine is pleased to announce that it achieved record sales results leading into the second half of the year. In an environment where many wine companies are struggling, Benchmark Wine, the largest rare and back vintage wine reseller in the United States, announced that the second quarter of 2024 was the best quarter in company history.
“The combined sales by our main operation in Napa, CA, founded in 2002, and east coast operation, Benchmark Wine & Spirits in Washington, DC, founded in 2022, resulted in the best sales quarter in company history,” said Owner and CEO David Parker. “The accelerated growth of our east coast operation combined with the steady growth in Napa sales assisted by our new operational affiliate Wine Spectrum and a newly rebounding market for rare wine to provide these gratifying results. Our team has worked very hard to upgrade our technology and our customer service, and complete our move into our new energy efficient and logistically seamless warehouse.”
While many retailers, producers, and importers have cut back or ceased operation over the past year, Benchmark’s announcement indicates that key components of the industry are as robust as ever. “We’ve always focused on the very top wines and specialized in making the broadest selection of them available in perfect condition. This model has consistently excelled in an ever-changing industry,” said Parker. “The top collectors and investors in the country remain loyal customers, and the next generation of collectors has discovered us as well. With the quick growth of our trade customer base and new services for top restaurants and specialty retailers, our business continues to yield great success.”
Benchmark sources its broad range of products from the very top private cellars, the best European brokers and product exchanges, and directly from producer libraries to assure the broadest selection, best prices, and perfectly conditioned wine. Every bottle includes an exclusive provenance guarantee. With the recent addition of rare spirits to its portfolio from the Benchmark DC branch, the company has expanded its offerings.
“As other channels for selling their products have declined, many top producers have come to us to help get their product directly to the consumers, award winning restaurants, and clubs that value it the most.” added Parker. “The list of producers that make their products directly available to us includes some of the top brands in the world. We also help high-end producers that are closing out brands or product lines, giving us and our customer base exclusive and rare access. As head of The National Association of Wine Retailers, I view my role as one of helping the entire industry succeed. I believe that cooperation and partnership serves that purpose much better than any company operating in isolation.”
The strategy seems to be working as Benchmark continues to grow. This past month they closed the books on the best July in company history; continuing indication of market success during what is normally a quiet part of the wine retail year.
About Benchmark Wine Group
Established in 2002, Benchmark Wine Group is a licensed importer, distributor and retailer in California, and the leading source of rare and back-vintage wine for wine retailers, restaurants and collectors around the world. Based in Napa Valley, it acquires the most sought-after wines from top producers, resellers and private individuals. Its affiliates – Brentwood Wine Company dba Benchmark Wine and Spirits in Washington, DC; First Growth Technologies, Inc, publisher of The Wine Market Journal & Spirits Market Journal; and CellarPros, LLC, the bespoke high service wine facilitator and storage company – and their staff collectively draw on over a century of industry experience, and are dedicated to providing exceptional selection, provenance, pricing and service.
About Benchmark Wine and Spirits
Born from the success of Benchmark Wine Group in Napa, CA, Benchmark Wine & Spirits, based in Washington, DC, has solidified itself as the nation’s leading source of rare and vintage-aged wine, while rapidly moving into the rare spirits market. It imports the best products from top wine and spirits producers and brokers in Europe while also being a major buyer of perfectly stored private wine and spirits collections.
About Wine Spectrum
Founded in 1990, the Wine Spectrum was created to offer the greatest wines in the world to customers nationwide. Wine Spectrum’s focus is on creating meaningful, long-term relationships with customers who value their sourcing, educational, and fulfillment prowess. Utilizing modern technology along with a seasoned, knowledgeable, and relationship-based human sales force, the company continues to be a major player in the wine industry.
